Intercontinental Exchange (NYSE:ICE) Upgraded at StockNews.com

StockNews.com upgraded shares of Intercontinental Exchange (NYSE:ICE) from a sell rating to a hold rating in a report issued on Tuesday morning.

Other analysts have also issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday, November 1st. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a report on Monday, October 14th. Barclays cut their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, TD Cowen began coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Trading Up 0.4 %

Shares of NYSE:ICE opened at $156.48 on Tuesday. The company has a 50 day moving average of $161.20 and a 200-day moving average of $149.70. The firm has a market cap of $89.85 billion, a P/E ratio of 37.08, a P/E/G ratio of 2.57 and a beta of 1.08. Intercontinental Exchange has a twelve month low of $110.11 and a twelve month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business earned $1.46 earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, analysts anticipate that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.65%.

Insider Transactions at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 509 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the sale, the director now directly owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. This represents a 11.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 in the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Trading of Intercontinental Exchange

Several large investors have recently modified their holdings of ICE. Assenagon Asset Management S.A. boosted its holdings in Intercontinental Exchange by 819.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after purchasing an additional 122,169 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Intercontinental Exchange by 200.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock valued at $1,987,000 after purchasing an additional 9,642 shares during the period. BDF Gestion bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $2,849,000. LRI Investments LLC bought a new stake in Intercontinental Exchange in the 1st quarter valued at $137,000. Finally, Burke & Herbert Bank & Trust Co. bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $1,366,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.